The related party balances with Prismic, Prismic Re and Prismic Re International impacted the Company’s balance sheet as of the periods indicated as follows:
| | | | | | | | | | | | | June 30,
2025 | | December 31,
2024 | | | (in millions) | | Reinsurance recoverables and deposit receivables | $ | 15,315 | | | $ | 9,084 | | Other assets | $ | 163 | | | $ | 187 | | Reinsurance and funds withheld payables (includes $45 and $(91) of embedded derivatives at fair value at June 30, 2025 and December 31, 2024, respectively) | $ | 7,776 | | | $ | 7,796 | | Accumulated other comprehensive income (loss) | $ | (172) | | | $ | (139) | |
The related party activity with Prismic, Prismic Re and Prismic Re International impacted the Company’s results of operations and cash flows for the periods indicated as follows:
| | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | | 2025 | | 2024 | | 2025 | | 2024 | | | (in millions) | Premiums | $ | (13) | | | $ | 19 | | | $ | (16) | | | $ | 15 | | Asset management and service fees | 15 | | | 9 | | | 28 | | | 18 | | Other income (loss) | 99 | | | 35 | | | 160 | | | 74 | | Realized investment gains(losses), net | (33) | | | 114 | | | (270) | | | 318 | | Policyholders’ benefits | (70) | | | (70) | | | (141) | | | (141) | | Change in estimates of liability for future policy benefits | (14) | | | 20 | | | (17) | | | 16 | | Amortization of deferred policy acquisition costs | (3) | | | 0 | | | (4) | | | 0 | | General and administrative expenses | 14 | | | 8 | | | 17 | | | 19 | | Income (loss) from related parties, before income taxes | 141 | | | 219 | | | 47 | | | 531 | | | Other comprehensive income (loss), before tax | (24) | | | (224) | | | (33) | | | (92) | | | Total comprehensive income (loss), before tax | $ | 117 | | | $ | (5) | | | $ | 14 | | | $ | 439 | |
| | | | | | | | | | | | | Six Months Ended June 30, | | 2025 | | 2024 | | | (in millions) | CASH FLOWS FROM OPERATING ACTIVITIES | | | | Adjustments to reconcile net income (loss) to net cash provided by operating activities: | | | | Realized investment (gains) losses, net | $ | 270 | | | $ | (318) | | Change in: | | | | Deferred policy acquisition costs | $ | (4) | | | $ | 0 | | Reinsurance related-balances | $ | (404) | | | $ | (369) | | | Other, net | $ | 21 | | | $ | 5 | | CASH FLOWS FROM INVESTING ACTIVITIES | | | | | Other, net | $ | (64) | | | $ | 0 | | CASH FLOWS FROM FINANCING ACTIVITIES | | | | | Other, net | $ | 167 | | | $ | 180 | |
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